It’s always a good idea to have your finger on the pulse of the real estate market. Townhomes are starting to speckle the market in the Addison area. We spoke with North Dallas Corridor real estate broker associate – and expert – Judy Collins of Private Label Realty. While some of the questions and answers may address the current market, she had timeless advice as well.
What is the townhome market like in Addison right now?
Many people are wanting to scale down and a lot of them are moving to the Addison area. However, townhomes seem to be selling to another group: those families just starting out who are not ready for a single-family home and first-time homebuyers. Townhomes are also selling a lot quicker than single-family homes.
As a realtor, what advice would you give sellers?
As a listing agent, I would want my seller’s to have their home in as pristine condition as possible. The more you do upfront the easier the sale goes. Have the home inspected, make the necessary repairs, have the home staged (I use Model My Home) and have a professional take pictures for the MLS. Do not ever use a cell phone to take pictures.
That is a travesty and does not do your seller or you justice. An agent or buyer will look at pictures and because it is sometimes the first time a buyer thinks about looking at a property, those pictures make a first impression.
What advice would you give buyers?
First thing is to get a pre-approval letter from your lender. When you submit an offer, that pre-approval letter should accompany the offer. It lets a buyer’s agent know the price range in which the buyer should be looking and lets the listing agent know the buyer is qualified to purchase the home. No guessing here.
What is the real estate outlook in Addison and the North Dallas Corridor right now?
Homes are selling if priced correctly and some will have multiple offers.
Any other information you would like to share?
It is very important the all agents realize that communication with the buyer and sellers – as well as other agents – helps everyone. Agent to agent communication has sold many homes and I’m not sure a lot of agents realize this, especially if they are new to real estate.